https://www.taxtmi.com/caselaws?id=221140 Creation of a reserve for slow-moving and excess inventory was treated as a reversible accounting entry, not a final write-off of inputs or their value. Because substantial quantities moved to the reserve were later dereserved and used, and excess stock could be adjusted through future procurement, the inputs were not yet written off in the books of account. On that basis, Rule 3(5B) of the CENVAT Credit Rules, 2004 was held prima facie inapplicable, and the balance of the demand was waived with recovery stayed pending appeal. en-us Tue, 24 Jul 2012 00:00:00 +0530 Wed, 01 Jan 2014 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221140 Creation of a reserve for slow-moving and excess inventory was treated as a reversible accounting entry, not a final write-off of inputs or their value. Because substantial quantities moved to the reserve were later dereserved and used, and excess stock could be adjusted through future procurement, the inputs were not yet written off in the books of account. On that basis, Rule 3(5B) of the CENVAT Credit Rules, 2004 was held prima facie inapplicable, and the balance of the demand was waived with recovery stayed pending appeal. Case-Laws Central Excise Tue, 24 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221140